The BCCI
terminated Pune Warriors from the IPL after the Sahara-owned franchise
defaulted on its payments and refused to furnish the bank guarantee for the
next season.
The decision was taken at the Cricket
Board's all-powerful working committee meeting in Chennai.
The
Pune Warriors have been on collision course with the BCCI after the Board
encashed its bank guarantee due to non-payment of franchise fee.
The
Pune Warriors have been on collision course with the BCCI after the Board
encashed its bank guarantee due to non-payment of franchise fee.
The
Pune Warriors have been on collision course with the BCCI after the Board
encashed its bank guarantee due to non-payment of franchise fee.
Sahara
has been demanding the completion of the arbitration proceedings on the issue
of franchise fee, which, it feels, should be lowered since the BCCI did not
deliver on its promised number of IPL matches for the team.
Pune,
bought by Sahara for USD 370 million (approx Rs 1702 crore) in 2010, was the
most expensive franchise on the IPL roster and its termination would cause
substantial financial loss to the BCCI.
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